Industry cover their cost production-economic profit is zero

Question-

When the firms in the industry are just able to cover their cost of production, economic profit is zero. Therefore, if demand falls, causing prices to go down even a little bit, all of the firms in the industry will be driven out of business." True or false? Describe.

Posted Date: 1/29/2014 10:02:38 PM | Location : United Kingdom(UK)

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